If a firm cannot cover its variable costs, it will
A. operate in the short run and stay in business in the long run.
B. operate in the short run and go out of business in the long run.
C. shut down in the short run and stay in business in the long run.
D. shut down in the short run and go out of business in the long run.
D. shut down in the short run and go out of business in the long run.
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Which of the following statements about the concept of opportunity cost is true?
A. The opportunity cost of a decision is the cost of all possible alternatives to the good produced. B. Many decisions do not involve an opportunity cost. C. If you have an economics final and an American history final tomorrow, the opportunity cost of studying five hours for your economics exam is the five hours you cannot study for your history exam. D. The opportunity cost of a college education at a school where you have to drive 100 miles per week is the cost and maintenance of owning an automobile to drive to and from school.
What characteristic defines something as money?
A) assets declared by the government to be of value B) a medium of exchange widely accepted in an economy C) notes you can deposit in a savings account D) an asset that earns interest
The most volatile part of wealth is
A. transfer payments. B. Bonds. C. the stockmarket. D. savings accounts.
Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. Assume hamburgers and french fries are complements. A decrease in the price of french fries will cause a movement from
A. Point A to Point B. B. S2 to S1. C. Point G to Point F. D. D1 to D2.